Published 6:30 am, Sunday, March 4, 2007

The energy committee must "look closely at the need for a larger reserve, its cost, its impact on world markets and its effect on oil and gasoline prices," Sens. Jeff Bingaman and Pete Domenici said in a letter last week to the Senate Budget Committee. Bingaman, D-N.M., chairs the committee. Domenici, also of New Mexico, is its ranking Republican.

The letter was sent to budget committee Chairman Kent Conrad, D-N.D. The reserve, in Texas and Louisiana, held 689 million barrels as of Feb. 23.